Oakworth Capital Inc. Has $154,000 Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Oakworth Capital Inc. reduced its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 19.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,033 shares of the natural resource company’s stock after selling 989 shares during the quarter. Oakworth Capital Inc.’s holdings in Freeport-McMoRan were worth $154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FCX. Bleakley Financial Group LLC boosted its holdings in Freeport-McMoRan by 17.1% in the 4th quarter. Bleakley Financial Group LLC now owns 78,350 shares of the natural resource company’s stock valued at $2,984,000 after purchasing an additional 11,441 shares during the period. Trilogy Capital Inc. raised its position in shares of Freeport-McMoRan by 1.3% in the fourth quarter. Trilogy Capital Inc. now owns 195,270 shares of the natural resource company’s stock valued at $7,436,000 after buying an additional 2,504 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $747,000. Stratos Wealth Partners LTD. grew its position in Freeport-McMoRan by 5.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 40,195 shares of the natural resource company’s stock worth $1,531,000 after buying an additional 2,001 shares in the last quarter. Finally, Guidance Capital Inc. increased its stake in Freeport-McMoRan by 142.4% during the 4th quarter. Guidance Capital Inc. now owns 39,154 shares of the natural resource company’s stock worth $1,480,000 after acquiring an additional 23,004 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Up 1.3 %

Shares of FCX opened at $37.15 on Friday. The stock has a market capitalization of $53.38 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 0.85 and a beta of 1.85. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The stock has a fifty day moving average of $39.48 and a 200-day moving average of $43.13.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. As a group, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on FCX. JPMorgan Chase & Co. reduced their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Scotiabank cut their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Finally, Raymond James lifted their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.